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How to Prepare for a Financial Audit

CFO Share

Embarking on your first financial audit can be nerve-wracking. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) How Long Do Financial Audits Take?

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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.

Finance 95
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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.

Finance 52
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More firms obtain independent assurance on ESG data

Future CFO

The number of global companies obtaining independent assurance on their ESG information increased from 51% to 58% in 2020, compared to the previous year, said the International Federation of Accountants ( IFAC ) recently. The use of, or reference to, Sustainability Accounting Standards Board (SASB) standards more than doubled in 2020.

IFRS 52
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Why Should Finance Teams Care About ESG Reporting?

The Finance Weekly

Converging ESG and Sustainability Reporting Standards There are several competing standards for ESG/Sustainability reporting including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Carbon Disclosure Project (CDP), and others.

Finance 52
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The most and least complex jurisdictions for financial compliance in APAC

Future CFO

China’s financial environment is the region’s most complex, followed by Vietnam, South Korea, Malaysia and Indonesia, according to TMF Group’s report titled Accounting & tax: The global and local complexities holding multinationals to account. However, APAC and EMEA take a much more localised approach.

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How to Comply with Accounting Standards for Nonprofits

The Charity CFO

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Because of their unique structure and operational model, nonprofits must comply with various accounting standards that are, in many ways, different from for-profit organizations.